Mergers and acquisitions company, ILUS International Inc (OTCMKTS:ILUS), on September 29, 2022, confirmed that it has achieved quick growth since the new management took over in January 2021. ILUS confirmed completing different large acquisitions and an up-list to a major stock exchange.
On Thursday, ILUS stock gained 0.64% to $0.0950 with more than 8.35 million shares, compared to its average volume of 9.01 million shares. The stock moved within a range of $0.0930 – 0.1039 after opening trading at $0.0960.
ILUS Confirms Share Lock-Up Opportunity
In line with this progress and to create maximum value for its long-term shareholders, ILUS will be providing its shareholders with an opportunity to lock-up ILUS shares in a preference category.
ILUS Managing Director, John-Paul Backwell said that together with the audit, followed by Form 10 submissions, additional acquisitions as well as exciting developments, the firm is confident that lock-up will reward the participating long-term shareholders. The opportunity will be available to all ILUS shareholders as conditions such as ILUS making an announcement confirming the complete details and shareholders choosing to participate in lock-up registering details on ILUS website.
The conditions include shareholders being given an opportunity to lock-up common ILUS shares in a preference category for 24 months.
ILUS CEO Nick Link said that the focus has been on establishing a robust foundation for the business, and transforming the sectors it operates. Link added that business is taking several leaps forward and shareholders continuing on the journey will get the maximum value.
“In conjunction with our completed audit, which is being followed by our Form 10 submission, additional completed acquisitions, an up-list and further exciting developments, we are now confident that the lock-up will greatly reward our participating long-term shareholders,” said ILUS Managing Director, John-Paul Backwell.
ILUS stock is trading above the 20-Day and 50-Day Moving averages of $0.0937 and $0.0845 respectively. However, the stock is trading below the 200-Day moving average of $0.1446. The company has a total market capitalization of $118 million.